Author: Chidi Emenike

   Cadbury Nigeria Plc set to hold 56th Annual General Meeting (AGM) on June 16.

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The Board of Cadbury Nigeria Plc has announced that it will be hosting its 56th Annual General Meeting on the 16th of June, 2021.

This is according to a notification signed by the company’s secretary, Fola Akande and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and officially declared.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.

What you should know:

  • Cadbury Nigeria Plc had earlier reported a profit after tax of N931.83 million in FY 2020, and subsequently proposed a dividend of 18 kobo per share
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of five (5) representatives authorized to represent shareholders, have been made available.
  • If approved, dividends are expected to be paid to qualified shareholders on 17th of June, 2021.
  • The link for the Annual General Meeting will be made available on the company’s website: www.cadburynigeria.com

For more information about the AGM, click HERE.

FCMB Group Plc appoints Muibat Ijaiya as Director.

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First City Monument Bank (FCMB) Group Plc has announced the appointment of Ms. Muibat I. Ijaiya into its board as an Independent Non-Executive Director, following the obtaining of a regulatory approval from the Central Bank of Nigeria.

The Group in a notice signed by its secretary, Olufunmilayo Adedibu expressed confidence in the abilities of the newly appointed Director, given her wealth of experience and profile. An excerpts of the notice read: ‘’ Muibat continues to work in advancing the science of strategy execution, particularly for organizations in complex industries and public institutions focused on transforming key sectors, and the Board is assured that her wealth of experience would be of great impact to the FCMB Group.’’

Profile

Muibat Ijaiya is a Strategy Development and Execution expert with over 19 years of consulting and advisory experience. Prior to her appointment, she was a partner at Strategy Management Partners. She had also worked for various reputable firms such as Ernst and Young (UK), Palladium Group (UK and Middle East) among others.

She is an alumna of University of Surrey and Warwick Business School where she obtained BSc and MSc degrees respectively. She also holds an MBA from the University of Manchester.

For more information about her appointment, click HERE.

Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.

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Afromedia Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Turnover for the period was N65.9 million. (-16.1% YoY)
  • Cost of sales was N48.2 million. (+26% YoY)
  • Administrative expenses totalled N47.63 million. (+27.6% YoY)
  • Operating loss of N25.3 million was incurred for the period.
  • Loss after tax for the period was N27.3 million. (-1,076.2% YoY)

See link to results.

2021 Q1 Results: FTN Cocoa Processor Plc reports loss after tax of N162.21 million

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FTN Cocoa Processor Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N56.3 million. (-30.8% YoY)
  • Cost of sales was N112.72 million. (-43.2% YoY)
  • Operating expenses totalled N41.15 million. (-18.5% YoY)
  • A loss after tax of N162.21 million was recorded.
  • Loss per share of -7kobo Vs -4kobo YoY.

See link to results.

Courteville Business Solutions Plc proposes final dividend of 3 kobo per share for FY 2020.

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The Board of Directors of Courteville Business Solutions Plc has proposed a final dividend of 3 kobo for every share of 50 kobo held by shareholders for the year ended 2020.

This is according to a disclosure made available on the website of the Nigerian Stock Exchange (NSE), as seen by Nairametrics.

According to the notice, the proposed dividend will be paid electronically to qualified unit holders on the 20th of May, 2021. Qualified shareholders are those, whose names appear in the Register of member as at the close of business on 6th of May, 2021. Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • Unit holders must have mandated the Registrar (Crescent Registrars Limited) to pay their dividends directly into their bank accounts.

Consequently the firm’s Register will be closed from 6th to 21st of May, 2021. The firm will hold its Annual General Meeting on 20th of May, 2021 to consider and approve the proposed dividend.

What you should know:

  • Courteville Business Solutions Plc is a Nigeria-based firm specialized in offering e-business solutions and advisory services. Some of its line of service include; AutoReg MVAD, e-commerce, education, e-Government and Webpeople.
  • The firm had earlier posted a profit after tax of N153.6 million in FY 2020.

 

For more information about the disclosure, click HERE

2020 FY Results: UPDC Real Estate Investment Trust records over 500% growth in Profit after tax.

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UPDC Real Estate Investment Trust released its audited full-year results for the period ended 31st of December, 2020.

  • Total revenue for the period was N2.42 billion. (+2,279% YoY)
  • Rental Income was N1.5 7 billion. (-7.1% YoY)
  • Operating expenses totalled N480.5 million. (-11.5% YoY)
  • Profit after tax was N1.93 billion. (+530.1% YoY)
  • Earnings per unit of 72 kobo. (+523.5% YoY)

See link to results.

Sovereign Trust Insurance records a 43% surge in profit after tax to N392.1 million in Q1 2021.

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Sovereign Trust Insurance Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net premium written for the period was N1.9 billion. (+18% YoY)
  • Total claims paid during the period was N1.27 billion (+17% YoY)
  • Underwriting profit of N851 million. (+53% YoY)
  • Profit after tax was N392.11 million. (+43% YoY)
  • Earnings per share of 3.45 kobo Vs 3.3 kobo YoY.
  • Net assets per share of 79 kobo.

See link to results.

Seplat Petroleum Company announces currency exchange rates for proposed final dividend in FY 2020.

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Seplat Petroleum Development Company has announced the exchange rates that will be applicable in determining the proposed final dividend for 2020.

According to a notice filed with the Nigerian Exchange Group Plc (NGX) and seen by the Nairametrics, the following rates are applicable to any shareholder that qualifies for and has elected to receive the FY 2020 dividend payment in Naira or Pounds;

  • 1 USD = 410.24 Naira
  • 1 USD = 0.7197 GBP.

According to the notice, the exchange rate for the Naira or Pound Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 30th April 2021.

It is pertinent to note that upon the satisfaction of pre-requisite conditions, qualified Seplat shareholders are entitled to receive their dividend either in the default local currency (Naira) or the US Dollar. In light of this, the closing date for dividend currency election to the company’s registrar is 18th of May, 2021.

The firm had earlier stated that Shareholders holding their shares on the Nigerian Exchange Group (NGX Plc) without a valid Nigerian Certificate for Capital Importation (“CCI”) will be paid their dividend in Naira as the default currency. On the other hand, Shareholders holding their shares on the NGX with a valid CCI will be paid their dividend in US dollars as the default currency.

The firm also noted that shareholders with a US Dollar default dividend payment scheme can opt to receive their entire dividend payment in Naira subject to the provision of CCI to Datamax Registrars Limited.

What you should know:

  • Seplat Petroleum Development Company Plc is a leading independent energy company listed on both the Nigerian Exchange Group and the London Stock Exchange.
  • The firm had earlier announced a FY 2020 final dividend of $0.05 per share payable to qualified shareholders’, whose names appear in the Register of Members as at close of business on 4th of May, 2021.
  • Within the period under review, the firm reported a loss of $80.2 million.

 

Ardova Plc posts profit after tax of N858.7 million in Q1 2021.

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Ardova Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N41.99 billion. (+0.8% YoY)
  • Cost of sales was N38.6 billion. (+0.5% YoY)
  • Administrative expenses totalled N1.5 billion. (+7.4% YoY)
  • Operating profit for the period was N1.4 billion.
  • Profit after tax was N858.7 million. (+1% YoY)
  • Earnings per share of 66 kobo Vs 65 kobo YoY.

See link to results.